Healthcare Cloud Computing Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Cloud computing, often referred to as ‘the cloud’, is a method to store and access the data and programs over the internet. The cloud computing is the delivery of computing resources over the internet on a pay-for-use basis. The resources which are used are elastic and the user pay for the services procured. Cloud computing helps the healthcare industry in numerous ways such as it allows professionals to store and access data remotely, it provides the great reach during the times of disaster so that the professionals can reach to the required places, it provides and holds more information at a lower cost, and clouding helps to share and store data, which helps to speed up the medical research.

Numerous applications of cloud computing for healthcare data management is the factor driving the healthcare cloud computing market

Individuals maintain their health by using smartphones and wearables so that they can track their diets, exercise records and vital signs, and to review doctors and care facilities. This growing consumer participation is the major driving factor of healthcare cloud computing market. Some essential requirements such as security, confidentiality, privacy, traceability of access, reversibility of data, interoperability included in healthcare data management  is possible with the use of cloud computing. The need of  legislation of healthcare data compliance policies, rise in interest of load balancing benefits  , and the growing of bring –your- own –device (BYOD) strategy at hospitals ,  are some of the factors leading to the growth of healthcare cloud computing market. According to Health Information and Management Systems Society (HIMSS), 83% of healthcare organizations are using cloud based apps today, and 53% of healthcare employees are using three or more devices for work. Additionally, cloud computing offers big data sets for radiology images, electronic health records, and genomic data offloading, contributing to the growth of healthcare cloud computing market. However issues related to interoperability and standardization of cloud and growing concern related to patient information security are some restraints that are likely to hinder the growth of healthcare cloud computing market.

Greater advantages of software as a Service (SaaS) model is more used by healthcare industry, adding to the revenue of healthcare cloud computing market

The global healthcare cloud computing market is segmented by applications, by service model, by deployment model, by pricing model, by component and by region.

On the basis of applications, the healthcare cloud computing market is segmented into

  • Non –Clinical
  • Clinical

On the basis of service model, healthcare cloud computing market is segmented into

  • Information service
  • Platform service
  • Software service

On the basis of deployment- model, healthcare cloud computing market is segmented into

  • Public- cloud deployment model
  • Private- cloud deployment model
  • Hybrid -cloud deployment model

North America dominates in the healthcare cloud computing market owing to established healthcare and IT sector

Regional segmentation of healthcare cloud computing market by Coherent Market Insights comprises of North America, Latin America, Europe, Africa, Asia Pacific, and Middle East. Widespread use of digital recordkeeping systems is helping North America to dominate in the healthcare cloud computing market. North America is the traditional hub for the intensive research in the healthcare industry as well as in the IT industry, contributing to the growth of healthcare cloud computing market in this region.

The advantages of cloud computing services is helping the companies to operate easily in highly fragmented healthcare cloud computing market

 Key industry players operating the healthcare cloud computing market includes ClearData Networks, CareCloud Corporation, AthenaHealth Incorporated, CareStream Health Inc., Dell Incorporated, GNAX Health, IBM Co., Merge Healthcare Incorporated, VMware Incorporated, and Iron Mountain Inc. Healthcare cloud computing market is highly competitive but advantage of cloud computing of being easy to scale up and scale down making use of these services lucrative for companies operating in healthcare cloud computing market. The industry players are adopting the strategies such as client acquisitions, partnerships, alliances, event participation, educational promotion and others to sustain in the healthcare cloud computing market.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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